IoT Represents Huge and Largely Untapped Market for CSPs: Report

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AI will be closely linked with the end-users, thus creating opportunity for CSPs to offer resource support for AI-enabled use cases

Internet of Things (IoT) represents an immense and largely untapped market for global communication service providers (CSPs), once these carriers start to fully leverage the 5G for IoT applications and services, according to a latest study by ResearchAndMarkets.com.

CSPs have the opportunity to offer various crucial services like IoT authentication, accounting and authorization as these providers are uniquely placed as the owner of primary network that is used for IoT. They can also leverage telecom API resources to help in managing IoT-related access control, usage tracking and permissions.

In the longer term, CSPs will use telecom APIs and other related tools to help in numerous industry requirements in which they are perfectly positioned to leverage their market position. Three major areas that represent huge opportunities for CSPs to aggressively follow solution development in the near-term are IoT, artificial intelligence (AI) and mobile edge computing.

Opportunities in mobile edge computing

According to the report, these carriers are well-positioned to utilise telecom API-enabled capabilities in support of several edge computing use cases as mobile edge computing is rolled-out to optimise 5G, LTE and IoT.

Several mobile edge computing use cases will need support from varied telecom API categories including location, subscriber data, presence and quality of service (QoS) in support of zone-based enterprise applications, services and data analytics, the report cites.

“This will create a challenge as well as opportunity for CSPs that will require the assistance of systems integrators (SI) for deployment and managed infrastructure services providers for continuing operations,” it adds.

With regards to telecom APIs in AI, the report states that several AI capabilities will be embedded within other fields such as devices, platforms, semiconductors, etc. Therefore, AI will be closely linked with the end-users, thus creating opportunity for CSPs to offer resource support for AI-enabled use cases.

As per the report, overall global telecom API related revenue is estimated to reach US$ 442.1 billion by 2024. On the hand, global Unified Communications-as-a-Service (UCaaS) revenue is expected to reach US$ 61.9 billion by the given year, witnessing a compound annual growth rate (CAGR) of 48 per cent.

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